Switzerland: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 149

Publication date: June 2003

ISBN: 9781451807257

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Economics- Macroeconomics , ISCR , CR , price , monetary policy , inflation expectation , goods inflation , widening output gap , target inflation , low-inflation record , inflation-control target range , Inflation , Price stabilization , Exchange rates , Output gap , Short term interest rates , Global

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Summary

This Selected Issues paper takes a close look at the proximate determinants and short-term dynamics of inflation in Switzerland. It identifies salient features of the inflation experience in Switzerland. The paper uses a wage-price model to gauge the sensitivity of inflation to the business cycle and the exchange rate. The findings suggest that underlying inflation of about 1 percent reflects a slightly higher rate for domestic goods and services and low increases in prices of imported goods.